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Business advantages of Belize offshore jurisdiction
...quired to have a registered office in this country but headquarters are not obliged to be present there on a regular basis. Operating language in Belize is English due to the fact that it is a former UK colony. You also do not need to file financial reports as you are not obliged to pay internal taxes. **Trading rules in Belize offshore jurisdiction are also very close to standard.** You do ...
Path: BlogUK government has stopped tax data exchange with Russian Federation
...y, as the Russian tax authorities still receive information based on separate requests. British tax officials have an established “high-quality exchange of tax information on requests” system, as well as an automatic exchange of cross-country reports (CbCreporting) in accordance with the Multilateral Convention on Administrative Assistance in Tax Matters standards. An automatic exchange ...
Path: BlogHow to Obtain a Crypto License in Saint Vincent and the Grenadines
...s activities such as cryptocurrency exchanges, initial coin offerings (ICOs), decentralized finance (DeFi) projects, and non-fungible token (NFT) drops. The VABA will require businesses to adhere to AML/CFT regulations and submit detailed compliance reports. Steps to Obtain a Crypto License in SVG Stage 1: Company Formation (1 Week) Incorporate a Company: Establish a Limited Liability Com...
Path: BlogHow to set up a Limited Partnership in Scotland?
...documents and all necessary papers are filed right. Governmental organizations support growing business and entrepreneurs can use all advantages of paying most attention to business and not thinking about high tax duties and unnecessary papers or reports. This means starting your own business in Scotland in form of limited partnership is a reasonable idea for entrepreneurs who need to develop a...
Path: BlogBrief description of the first day of Bitcoin usage in daily payment: technical problems and protests
**Due to BBC reports, the first week that Bitcoin has been a legal tender in El Salvador resulted in technical problems, protest and cryptocurrency’s sharp fall in market value.** On Tuesday, September the 7th, the price of Bitcoin fell from USD 52,000 per coin to USD 43,000, reaching its lowest mark in almost a month. As a result of a cryptocurrency daily usage blurry start one of the poore...
Path: BlogTanzania takes steps to cryptocurrency implementation
After Bitcoin received legal tender status in El Salvador, Tanzania has also made steps towards wide-spreading Bitcoin usage. According to local media reports, this Sunday, 13.06.2021, Tanzanian president, Saami Suluhu Hassan, gave a speech, in which she urged the central bank to start preparations for cryptocurrency implementation. She stated, that it is impossible to ignore the fact, that cr...
Path: BlogCan Bitcoin Replace Gold As the Safe-Haven Asset?
...ion of fiat currency and traditional equities in unstable markets. As the Bitcoin boom continues, it could overtake gold as a safe-haven asset. Nevertheless, evidence could be vague and show shifting standards in terms of direct correlation. Many reports have shown that Bitcoin’s connection to the price of gold had weakened as the trading volume declined at the beginning of the year. However,...
Path: BlogDiversified reporting in no-deal Brexit scenario
The United Kingdom (UK) left the European Union (EU) on 31 January 2020. A transition period is now in place until 31 December 2020. If UK leaves the EU without an agreement (no-deal Brexit), it is important to ensure transaction reports are submitted to the correct Trade Repository (TR) and/or Approved Reporting Mechanism (ARM). At the moment there are no indications that Brexit deal will be...
Path: BlogOutbreak of Crypto Frauds Amid Coronavirus Outbreak
...order to steal passwords, money, and cryptocurrencies, or hold user files to ransom. The City of London’s National Fraud Intelligence Bureau (NFIB) has tracked 21 coronavirus scams since February, with a small number asking victims for bitcoin. It reports that non-crypto schemes have managed to scam around £800,000 so far. Crypto currency related scams have forced many countries to issue inv...
Path: BlogPandemic effect on Cryptocurrency markets
...fecting the world economy along with global health. **The traders are facing Coronavirus induced volatility in the market.** Many are stunned by the fear of the world economy to slow down, which is, therefore, affecting the stock prices to dip down. reports suggest that the S&P 500 index has gone red with 10% since January 2020. Before Black Monday, when the price of Bitcoin dipped below $4,000...
Path: BlogEconomic Substance Regulations in UAE
...ese are “economic substance regulations” requiring the UAE companies to demonstrate actual economic activities** - the type and level of activity they undertake. Further, businesses carrying out “relevant activities” will have to produce the reports to the Regulatory Authority annually to demonstrate that the company achieves economic substance interest. **Scope** The provisions of t...
Path: BlogFrom now on, Cryptocurrency Transactions are under strict AML regulation in Israel
The country’s main goal is to stop the use of crypto assets in the illegal money transfer. In the latest Israeli media reports it is stated that cryptocurrency assets will now fail under strict anti-money laundering rules of Israel, which is another country’s step in their policy of tightening the grip around unlawful crypto activities under its jurisdiction. According to the article by ...
Path: BlogRussian Tax Authority has received data on foreign accounts and assets of its citizens in 58 countries
...to file an official request with the competent authority of a foreign jurisdiction, but now information about existing foreign accounts of a specific taxpayer is granted without delay".* During 2019, the FTS will compare received information with reports submitted by taxpayers. Representatives of the FTS estimate that 80–85 percent of the information received via automatic exchange will corre...
Path: BlogPeru has joined two major OECD Conventions
...ve multilateral instruments on cross-border tax co-operation. These implementations will allow for exchange of information on request, as well as automatic exchange of information, pursuant to the Common Reporting Standard and Country-by-Country reports of large multinational groups. The first of the mentioned above conventions will enter into force for Peru on 1st of September, the second ...
Path: BlogAustralia is planning to implement blockchain technology in order to automate transaction reporting
**The Australian Transaction reports and Analysis Centre (AUSTRAC) currently is testing a blockchain prototype with a goal of funds transfer automation.** ZDNet reported this Sunday that the AUSTRAC has partnered with the Swinburne University of Technology in Melbourne for the purpose of building a model for testing. The aforementioned associates will particularly test how blockchain and rela...
Path: BlogHow to choose a suitable company structure for your business?
...n business registration process. • Taxation matters You can never avoid taxes at all but in different company structures tax obligations differ too. In sole proprietorship or partnerships, income tax is displayed in personal declarations and reports. This works also for LLC, where every partner show their income in personal documents and taxes are payed according to them. However, every st...
Path: BlogThe British Virgin Island Authority declared a warning for CRS and FATCA
... the international tax authorities. In February 2018, the British Virgin Islands International Tax Authority issued a reminder for companies who are subject to this regulation that May 31st will be the deadline for all institutions to fill in the reports according to the abovementioned requirements. **The British Virgin Islands Financial Account Reporting System is an online service, which allo...
Path: BlogToo old for trading
... There can be a lot of different reasons for imposing such age restrictions. One of the most possible is that older people are more likely to become victims of scams and other online frauds. **Japanese Financial Services Agency (FSA) received 197 reports of investment frauds during the first quarter of 2017**, at the same time most of the complaints come from elderly people. Approximately 21% o...
Path: BlogCORPORATE FINANCE AND BUSINESS ADVISORY
...esenting your case during the negotiation process. Our services include: Management consultancy. Advice on mergers, acquisitions and management buyouts. Equity and Debt raising. Business and project valuation services. Due diligence reports. Advice on capital restructuring and fund raising. Advice with respect to change of ownership and sale of business. Feasibility studies ...
Path: AdditionalA raising trend of investment scams in Australia
...e **top scams that targeted Australians were Investment schemes**. In the course of these fraudulent schemes, Australians reported losses of $1.18 million. Some of the most widespread fraudulent schemes were false billing scams. In May 2018, 429 reports related to investment scams were submitted. Reported losses, caused by these scams, amounted to approximately $6 million. As of now, these are...
Path: BlogNew anti-money laundering rules for crypto exchanges in Norway
...equirements, including: • Implementing and maintaining an AML/CTF program to identify and manage money laundering and terrorism financing risks; • Identification and verification of the customers; • Reporting to Australian Transaction reports and Analysis Centre regarding suspicious transactions involving physical currency of $10,000 or more; • Storing the above-mentioned recor...
Path: BlogNew solution for suspicious transactions report in Hong Kong
The Hong Kong government is looking to upgrade the process of filing suspicious transaction reports by way of the introduction of a new solution – **“e-STR”**. As it stated on the official website of the Securities and Futures Commission: *“In order to enhance the capacity in suspicious transaction report ("STR") processing and shorten the time required for STR reporting entities t...
Path: BlogAttention! New guidelines for crypto holders were announced by the UK Tax Agency
...ypto assets and how its owners might be taxed on their assets.** HMRC (Her Majesty’s Revenue and Customs), the branch of government in charge of tax collection and overseeing other aspects of the nation’s treasuries, stated that one of latest reports particularly aims to describe how persons owing digital assets may be taxed, but does not draw attention to the tax model for tokens held by c...
Path: BlogThe grand taxpayer data swap is approaching
... exchange in September 2018. The abovementioned **Convention is the main multinational instrument for the exchange of information related to tax matters**, including exchanges upon request, as well as the automatic exchange of Country-by-Country reports. As of the 5th July, **international legal network for the automatic exchange of offshore financial information under the CRS covers more t...
Path: BlogNetherlands Accounting Services
...counting team would ensure both that you meet your reporting requirements and that you are compliant with the local legislation. Accounting services provided by Offshorelicense Accounting team also include: Preparation of financial reports; Creation and submission of annual financial statements; Report submission to the tax authorities; Virtual assistance with any questions...
Path: AccountingUnited Arab Emirates Accounting Services
...ng team would ensure both that you meet your reporting requirements and that you are compliant with the local legislation. Other Accounting services provided by Offshorelicense Accounting team also include: Preparation of financial reports Creation and submission of annual financial statements Virtual assistance with any questions regarding taxation in the UAE Other Account...
Path: AccountingMauritius Accounting Services
... both that you meet your reporting requirements and that you are compliant with the local legislation. Other Accounting services provided by Offshorelicense Accounting team also include: Preparation of quarterly, monthly and annual reports Support of global audits Virtual assistance with any questions regarding taxation in Mauritius Other Accounting services R...
Path: AccountingUnited Kingdom Accounting Services
...siness. Offshorelicense Accounting team would ensue both that you meet your reporting requirements and that you are compliant with the local legislation. Depending on your company type, you most likely should submit at least one of these reports to either Companies House or HM Revenue and Customs (HMRC) on a regular basis: Confirmation Statement (previously Annual Returns) – at...
Path: AccountingHong Kong Accounting Services
...ng team would ensure both that you meet your reporting requirements and that you are compliant with the local legislation. Other Accounting services provided by Offshorelicense Accounting team also include: Preparation of financial reports; Creation and submission of annual financial statements; Report submission to the tax authorities; Virtual assistance with any questions...
Path: AccountingLabuan Accounting Services
...ld ensure both that you meet your reporting requirements and that you are compliant with the local legislation. Other Accounting services provided by Offshorelicense Accounting team also include: Preparation of monthly, half-yearly reports for Labuan Financial Services Authority; Creation and submission of annual financial statements; Support of global audits; Virtual assis...
Path: AccountingVanuatu Accounting Services
... both that you meet your reporting requirements and that you are compliant with the local legislation. Other Accounting services provided by Offshorelicense Accounting team also include: Preparation of quarterly, monthly and annual reports for Vanuatu Financial Services Commission; Support of global audits; Virtual assistance with any questions regarding taxation in Vanuatu; ...
Path: AccountingVanuatu Audit Services
... a reputation of financial business hub. Therefore, the government is supporting the development of financial institutions in the country.Description In the Republic of Vanuatu, a company has the obligation to submit quarterly and annual reports to Vanuatu Financial Services Commission (VFSC), as well as audited financial statements by the end of relevant period. The deadline for all s...
Path: AccountingBulgaria Accounting Services
...use of International Financial Reporting Standards (IFRS) adopted by the European Union, or National Accounting Standards (NAS) of Bulgaria. All enterprises are required to prepare their annual individual financial statements and annual management reports on activities by 31 March of the following year. Management is responsible for the timely preparation of the financial statements and their co...
Path: AccountingGibraltar Accounting Services
...uly of every tax year; A Complete Tax Return should be submitted within nine months after the end of their financial period. Accounting services provided by Offshorelicense Accounting team also include: Preparation of financial reports; Creation and submission of annual financial statements; Report submission to the tax authorities; Virtual assistance with any questions...
Path: AccountingCyprus Accounting Services
...siness. We would ensure both that you meet your reporting requirements and that you are compliant with the local legislation. Accounting services provided by Offshorelicense Accounting team also include: Preparation of financial reports; Creation and submission of annual financial statements; Report submission to the tax authorities; Virtual assistance with any questions...
Path: AccountingAustralia Crypto License
...ver, businesses must ensure they have adequate financial resources to meet the compliance and operational standards set by the regulatory authorities, such as the Australian Securities and Investments Commission (ASIC) and the Australian Transaction reports and Analysis Centre (AUSTRAC). Overview As of March 2024, Australia does not yet have a defined process or timeline for cryptocurrency l...
Path: LicensingMalta Gambling License
...p;The Malta Gaming Authority (MGA) will require reviews to take place on the following schedule: After the first year of operation after being licensed by the MGA Any other audit depending on the compliance plan set by the MGA Other key reports required by the Authority to monitor the overall gaming activity are listed here*: Yearly audited accounts Half-Yearly reports Month...
Path: LicensingSwitzerland Portfolio Management (ARIF Registration)
...be certified true copy by the Company Secretary or Notary public) Certificate of Registered Address of the Company (to be certified true copy by the Company Secretary or Notary public) Copies of three (1) year audited financial statements/annual reports preceding the application All documentation shall be provided in English* * If documents are not in English, then they must be accompa...
Path: LicensingBelize Forex License
...ld outside of Belize, by telephone or other electronic means. Alternatively, directors and shareholders may vote by proxy. Accounting requirements Belize licensed companies face the following reporting requirements: Quarterly financial reports to the IFSC (not audited) Yearly company statement reports to the IFSC Audit of the company’s financial reports and further submission o...
Path: LicensingVanuatu Dealer's in Securities License
...proposed auditor is not suitable having regards to: The nature of the business carried on by the licensee; and The qualification, competence and integrity of the auditor A licensee shall submit to the Commissioner a quarterly and annual reports outlining updated details which must include: Number of investors and amount of funds invested Number of products offered to investors...
Path: LicensingCuracao Gambling License
...f public record Taxation 0% tax on gross bets 2% corporation tax for e-Zone companies that retain annual compliance No VAT, Sales Tax or import duties No restriction on dividend withdrawals. Accounting requirements - Basic reports should be submitted. Secretary - Required Registered Agent - Required Registered office - Servers should be located in...
Path: LicensingSeychelles International Business Company (IBC) Formation
...anies, Seychelles IBC is designed to engage in international business. Being an IBC, it is subject to minimum red-tape. While being obliged to keep internal records and registries in good order, a Seychelles IBC does not nave to submit any financial reports to public file. There is also no mandatory audit requirement. Additionally the Republic of Seychelles is a nation. Therefore, it does not repo...
Path: CompaniesLabuan Fund Management License
...ll of each Director and Shareholder) Bank reference Letter (of each Director and Shareholder) CV (of each Director and Shareholder) Certified true likeness passport photos of the shareholders and directors Certified true copies of the police reports (of each Director and Shareholder of the company) In the case if the shareholder is a company, needs to provide: Certified true cop...
Path: Licensing